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NicP81's avatar
NicP81
Member
2 years ago
Solved

Bonus payment tax issue

Hi, I did my final 2023 FY pay run yesterday but then decided we were going to give one employee a $5K bonus.  I had already submitted his usual pay so I did an extra pay entry for just the bonus but...
  • Doreen_P's avatar
    Doreen_P
    2 years ago

    Hi NicP81 

     

    When paying bonus to an employee, a new wage pay items needs to be set up. The Help Article, Bonus and allowances will provide the steps on how to do it. If the pay has been recorded already, an adjustment is needed. Kindly check The Help Article Fixing a pay as it will guide you through how to do it. 

     

    Please let me know if you need further assistance.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

     

    Best regards,
    Doreen

Doreen_P's avatar
Doreen_P
MYOB Moderator
2 years ago

Hi NicP81 

 

When paying bonus to an employee, a new wage pay items needs to be set up. The Help Article, Bonus and allowances will provide the steps on how to do it. If the pay has been recorded already, an adjustment is needed. Kindly check The Help Article Fixing a pay as it will guide you through how to do it. 

 

Please let me know if you need further assistance.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

 

Best regards,
Doreen

  • NicP81's avatar
    NicP81
    Member
    2 years ago

    Thank you Doreen.  I had my accountant check it out and she confirmed what I had done was correct after all.

     

    Thank you for your response though.

    • Doreen_P's avatar
      Doreen_P
      MYOB Moderator
      2 years ago

      Hi NicP81 

       

      Thanks for updating us about this. Glad to hear that it has been resolved. Feel free to post again if you will encounter any issue. We'll be more than happy to assist.

       

      Best regards,

      Doreen

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